It has presence in over 2,000 cities

It has presence in over 2,000 cities and towns and it processes more than 2.5 million orders a day. The loss-making startup posted a revenue of about $300 million in the financial year ending March. The arrival of the Canadian pension fund is indicative that Xpressbees is readying itself for an initial public offering within a year to two.


Xpressbees started its journey within FirstCry, an e-commerce for baby products, in 2012. But in 2015, it became an independent company with Amitava Saha, co-founder and chief operating officer of FirstCry, moving out of FirstCry to become chief executive of Xpressbees. Supam Maheshwari, who co-founded FirstCry and serves as its chief executive, is the other co-founder of Xpressbees.


“We are excited about the market opportunity for end-to-end logistics and supply chain solutions that can meet the needs of a diversified customer base across industries, including e-commerce in India,” said Deepak Dara of Ontario Teachers, in a statement. “Led by a strong team, Xpressbees has established a highly scalable and efficient asset-light model with proven execution capabilities.”


Ontario Teachers’ has invested over $3 billion in India, and identifies it as one its “key strategic” countries.